Timber Creek Capital Management LLC Boosts Holdings in Flex Ltd. (NASDAQ:FLEX)

Timber Creek Capital Management LLC raised its stake in Flex Ltd. (NASDAQ:FLEX) by 41.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,162 shares of the technology company’s stock after acquiring an additional 33,404 shares during the quarter. Timber Creek Capital Management LLC’s holdings in Flex were worth $3,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new stake in Flex during the 4th quarter valued at $34,000. CWM LLC raised its stake in shares of Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after purchasing an additional 773 shares during the period. Fifth Third Bancorp lifted its holdings in Flex by 276.6% during the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,455 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in Flex in the 4th quarter worth about $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Flex during the fourth quarter valued at about $77,000. 94.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

FLEX has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $28.00 to $27.00 in a research report on Thursday, May 2nd. The Goldman Sachs Group boosted their target price on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, StockNews.com raised Flex from a “hold” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Flex Trading Up 0.1 %

Shares of Flex stock traded up $0.04 during trading on Tuesday, reaching $31.62. The company’s stock had a trading volume of 4,453,362 shares, compared to its average volume of 4,776,145. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.09 and a beta of 1.13. The firm’s 50-day moving average is $30.07 and its two-hundred day moving average is $28.05. Flex Ltd. has a 52-week low of $21.84 and a 52-week high of $34.12. The company has a quick ratio of 0.79, a current ratio of 1.52 and a debt-to-equity ratio of 0.61.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. Flex had a net margin of 3.58% and a return on equity of 16.46%. On average, sell-side analysts anticipate that Flex Ltd. will post 2.06 earnings per share for the current year.

Insider Activity

In other Flex news, Director Michael D. Capellas sold 78,872 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $33.64, for a total value of $2,653,254.08. Following the completion of the transaction, the director now directly owns 219,037 shares in the company, valued at approximately $7,368,404.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Flex news, CAO Daniel Wendler sold 1,670 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $32.53, for a total transaction of $54,325.10. Following the completion of the transaction, the chief accounting officer now owns 27,060 shares of the company’s stock, valued at $880,261.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Capellas sold 78,872 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $33.64, for a total value of $2,653,254.08. Following the completion of the sale, the director now directly owns 219,037 shares in the company, valued at $7,368,404.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 737,714 shares of company stock valued at $23,056,255. Company insiders own 0.56% of the company’s stock.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.